The basic purpose of a trial balance is to
A)list all of the accounts in the general ledger
B)list all of the accounts in the general ledger that have a balance
C)be sure that all journal entries have been recorded
D)verify that the total credits equal the total debits

Question

Quizplus · Accepted Answer

The basic purpose of a trial balance is to verify that the total credits equal the total debits, which is necessary for accurate financial statements. A trial balance lists all accounts and their balances, regardless of whether they have a balance or not. It also does not solely serve the purpose of ensuring that all journal entries have been recorded.

The Basic Purpose of a Trial Balance Is to